BMW Reports Net Profits for First Quarter 2010 at $420 Million

Backed by strong demand in China carmaker BMW has reported a significant profit for the first quarter 2010, noting an 8% increase in sales compared to same quarter figures for 2009.

According to BMW chairman Norbert Reithofer the company “increased earnings significantly in the first quarter and are now back on a growth course on almost all car markets.” That optimism is backed by figures showing BMW sales in China doubling from a year ago.

Reithofer said the company now has its eyes on hitting “significantly” higher earnings in 2010 after a disappointing 2009 that was heavily influenced by a global economic downturn.

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